Sun Valley Gold LLC: Control and Direction Over Securities of Orezone Gold Corporation

SUN VALLEY, IDAHO--(Marketwired - Oct. 31, 2016) - Sun Valley Gold LLC ("Sun Valley") announced today that it has acquired control and direction over an aggregate of 500 common shares ("Common Shares") of Orezone Gold Corporation ("Orezone") for and on behalf of client accounts over which it has discretionary trading authority. The Common Shares were acquired over the facilities of the TSX Venture Exchange for a purchase price of $0.77 per share.

Following the acquisition, Sun Valley exercises control and direction over an aggregate of 25,337,533 Common Shares for and on behalf of client accounts. The 25,337,533 Common Shares over which Sun Valley exercises control and direction represent approximately 16.45% of the issued and outstanding Common Shares.

The securities of Orezone were acquired for investment purposes. Sun Valley may increase or decrease its ownership of securities of Orezone depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW.